On scratch paper, write out each transaction in accounting equation format showing account titles and amounts. In addition, determine the effect (if any) of that transaction on the income statement. Choose the letter that matches your analysis from the table provided here. Note that "no transaction" means NO transaction needs to be recorded. If assets increase and decrease by the same amount, that is B, not J. You may use letters more than once or not at all. Edco provide waitstaff and entertainers for parties. Edco prepares monthly finacinal statement. The following selected transactions occurred in June June 2. Edco paid its employees $12,000 fro may's wages June 2. Edco provides services for an office party. Th client already paid Edco $1, 500 back in april for the services June 8. Edco $20 for gasoline in the delivery van June 20. Edco receives $670 from a customer for services that were provided in may june 29. Edco receives the june phone bill for $180 the bill will be paid in July